Acme Solar's stock rises on major battery storage order

Shares of Acme Solar Holdings rose on Monday, climbing over 6% intraday following the company's announcement of a substantial order for Battery Energy Storage Systems (BESS). This order, placed with Zhejiang Narada and Trina Energy, totals more than 3.1 GWh, marking one of the largest battery storage procurements in India to date. The stock peaked at Rs 264.8 on the NSE, up 6.1%, before closing at Rs 253, reflecting a 1.37% increase after recent declines.

Acme Solar's procurement is expected to facilitate the deployment of BESS across various renewable energy projects in India, scheduled for commissioning over the next 12 to 18 months. According to a company statement,

"This marks one of the largest battery storage procurements in India to date and will support the deployment of Battery Energy Storage Systems (BESS) across ACME Solar’s multiple renewable energy FDRE (Firm & Dispatchable Renewable Energy) and battery-linked projects, scheduled for commissioning over the next 12-18 months across multiple states in India."

The delivery is planned in phases over the current fiscal year, with the order value remaining within budgeted costs to maintain capex efficiency.

The advanced BESS equipment adheres to global standards, ensuring safety, performance, and reliability. This strategic move underscores Acme Solar's commitment to enhancing clean energy adoption and grid stability. The company aims to accelerate execution timelines and enable timely revenue realisation through early procurement, contributing to India's expanding renewable energy sector.

Additionally, the procurement aligns with global standards such as IEC and UL, ensuring best-in-class safety and performance. This significant order highlights Acme Solar's dedication to supporting India's renewable energy growth and enhancing grid stability in one of the fastest-growing regions.